Even though the Dow Jones Industrial Average was still cheering yesterday's QEIII announcement by The Fed today, dividend titans AT&T (NYS: T) and Verizon (NYS: VZ) ended the day with a thump, with each closing down 2.3%.
This may seem interesting as investors and consumers alike are cheering the already seemingly better than expected sales of Apple's (NAS: AAPL) iPhone 5. The company had to push back preorders after just a few hours of offering the service.
While those sales bring lucrative data plans to both Verizon and AT&T, they come with a big price tag: subsidies. More phones means these carriers have to shell out more cash to subsidize the world's hottest mobile device.
Apple is the most influential company in technology and has put these carriers between a rock and a hard place. That's good news for Apple shareholders and potentially bad news for the carriers. The power shift from the carriers to the handset makers can not be understated.
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If you came here looking for more great dividends like AT&T and Verizon make sure you read about The 3 Dow Stocks Dividend Investors Need.
The article The Dow's 2 Worst Stocks Today originally appeared on Fool.com.
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